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Downgrade Alert for Check Point Software Technologies (CHKP)

By David Diaz

Check Point Software Technologies (NASDAQ:CHKP) was downgraded from Buy to Hold at Deutsche Bank today. The stock closed yesterday at $81.70 on volume of 2.7 million shares, above average daily volume of 1.5 million.

Check Point Software Technologies Ltd. develops, markets and supports a range of software and hardware products and services for information technology (IT) security and offers its customers a network and gateway security solutions, data and endpoint security solutions and management solutions.

Check Point Software Technologies share prices have moved between a 52-week high of $89.98 and a 52-week low of $65.09 and closed yesterday at 26% above that low price at $81.70 per share. The 200-day and 50-day moving averages have moved 0.10% higher and 0% lower over the past week, respectively.

Check Point Software Technologies (NASDAQ:CHKP) has potential upside of 16.0% based on a current price of $81.70 and analysts' consensus price target of $94.75. The stock should find resistance at its 50-day moving average (MA) of $84.35, as well as support at its 200-day MA of $81.69.

SmarTrend is tracking the current trend status for Check Point Software Technologies and will alert subscribers who have CHKP in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades check point software technologies

Ticker(s): CHKP